A trader works on the floor at the New York Stock Exchange in New York City, U.S., Sept. 17, 2025.
Brendan McDermid | Reuters
Stock futures jumped on Thursday as investors rotated back into their favorite technology stocks now that the Federal Reserve has lowered rates and signaled more cuts are on the way.
traded higher by nearly 0.9%, while Nasdaq-100 futures gained 1.1%. Futures tied to the Dow Jones Industrial Average climbed 326 points, or 0.7%.
Intel shares rallied about 28% in premarket trading after Nvidia said it will invest $5 billion in the chipmaker to co-develop data center and PC products. Shares of Nvidia jumped 3%. Other tech shares also rose before the open, with Broadcom, Palantir and Tesla each higher by more than 1%. Advanced Micro Devices dropped 5%, meanwhile.
The moves follow a volatile day of trading Wednesday after the Fed, as anticipated, slashed its benchmark rate by a quarter percentage point. The Dow Jones Industrial Average was the lone gainer, rising 260 points, or about 0.6%, while the and the Nasdaq Composite ended the session in the red.
During a news conference following the decision, Fed Chair Jerome Powell put a damper on investor hopes that the central bank would be on a lengthy rate-cutting path this year, as he called the latest cut "risk management." In fact, policymakers are predicting two more reductions this year, but just one in 2026, while traders had priced in two to three more cuts next year.
"The Fed's 25 basis point cut is a clear signal: the softening labor market and stubborn inflation have pushed policymakers to act — but gradually. This isn't a pivot, it's a measured step," Gina Bolvin, president at Bolvin Wealth Management Group, said in a statement.
"For investors, this means modest rate relief, not fireworks," she added. "The Fed is walking a fine line, and upcoming inflation and jobs data will determine what comes next."
Despite Wednesday's losses, the S&P 500 and the Nasdaq are still headed for weekly gains, being up 0.2% and 0.5% in the period, respectively. That puts the broad market index on pace for its sixth positive week in seven and the tech-heavy Nasdaq on track for its third positive week in a row. Meanwhile, Wednesday's move higher for the 30-stock Dow puts its week-to-date advance at 0.4%, a move that would signify its second consecutive week of gains, if it holds.
Jobless claims return to norm after one-week spike
Initial unemployment claims settled down last week after a brief spike raised concerns that layoffs are on the rise.
Initial filings for unemployment insurance totaled a seasonally adjusted 231,000 for the week ending Sept. 13, down 33,000 from the previous week's upwardly revised level and below the Dow Jones consensus estimate for 240,000, the Labor Department reported Thursday. A spike last week from Texas that drove much of the prior week's increase eased, with claims down more than 5,000, according to unadjusted data.
Continuing claims, which run a week behind, also edged lower, down to 1.92 million.
— Jeff Cox
Intel, Novo Nordisk, Bullish, Cracker Barrel among stocks moving before Thursday's open
Check out the companies making the biggest moves in premarket trading:
- Intel— The semiconductor maker soared 30% afterNvidia said it will invest $5 billionin Intel to co-develop data center and PC products.Nvidiaadded 3%, one day after it lost 2.6%
- Novo Nordisk— The Danish drugmaker jumped 7.6% after late-stage results for its once-daily obesity pill showed"significant" weight reductionin line with its Wegovy injectable weight-loss drug.
- Bullish— The cryptocurrency exchange popped 7.3% after issuing its first earnings report since going public in August. Bullish earned 93 cents per diluted share in its fiscal second quarter on adjusted revenue of $57 million.
- Cracker Barrel—The restaurant chain earned an adjusted 74 cents per share inits fiscal fourth quarter, less than the 80 cents analysts polled by LSEG had estimated, sending its stock 7.2% lower. Cracker Barrel revenue of $868 million topped a consensus forecast for $855 million.
For the full list, read here.
— Pia Singh
Darden shares drop 7% after Olive Garden owner disappoints on earnings
Darden Restaurantson Thursday reported mixed quarterly results, leading shares to fall about 7% in premarket trading. Olive Garden and LongHorn Steakhouse helped offset weakness in its fine-dining business.
The company reported adjusted earnings of $1.97 per share, while analysts polled by LSEG expected $2 per share. Its revenue of $3.04 billion came out in line with expectations, meanwhile. Darden's same-store sales rose 4.7% in the quarter.
Darden Restaurants performance over the past year.
The company raised its full-year forecast for revenue growth, although it only reiterated its projections for its earnings. For fiscal 2026, Darden is projecting revenue growth of 7.5% to 8.5%, up from its prior forecast of 7% to 8% growth.
— Amelia Lucas, Pia Singh
Bank of England keeps rates steady
General view of the Bank of England and the Bank of England's Prudential Regulation Authority (PRA) in March 2025.
Sopa Images | Lightrocket | Getty Images
The Bank of England voted 7-2 to keep rates steady at 4%.
"The Committee remains focused on squeezing out any existing or emerging persistent inflationary pressures, to return inflation sustainably to its 2% target in the medium term," the BOE said in a statement.
Yet the British pound gave up an initial gain and was last trading just below the flatline. The FTSE 100 index, however, remained 0.3% higher on the day.
— Fred Imbert
Intel surges on Nvidia investment announcement
Intel shares rallied more than 30% in the premarket after Nvidia said it would invest $5 billion in the chipmaker as part of a deal to jointly develop data center and PC products.
INTC 1-day chart
— Fred Imbert
Bulls back in control after choppy session, Vital Knowledge says
Market bulls appear to be back in control after a choppy session following the Fed cutting its overnight rate by a quarter percentage point, according to Adam Crisafulli of Vital Knowledge.
"The FOMC decision Wed afternoon created a lot of volatility and mixed reactions/takeaways among investors, but as the dust settles, bulls are back in control of both stocks and bonds, with prices of each heading higher," he said in a note.
— Fred Imbert
Cracker Barrel shares drop after restaurant chain posts weaker-than-expected earnings, soft revenue guidance
A Cracker Barrel sign featuring the old logo hangs on the outside of a restaurant on August 21, 2025 in Homestead, Florida.
Joe Raedle | Getty Images
Shares of Cracker Barrel Old Country Store slid more than 9% in extended trading Wednesday after the company's fourth-quarter earnings missed analyst estimates.
The restaurant chain reported adjusted earnings of 74 cents per share, below the 80 cents per share that analysts surveyed by LSEG were expecting for the quarter. However, the company's revenue of $868 million came in better than the consensus estimate of $855 million.
Cracker Barrel's full-year guidance disappointed investors as well, as the company expects revenue for the period of between $3.35 billion and $3.45 billion. Analysts had anticipated $3.52 billion, per LSEG. On top of that, it sees same-store traffic declining between 4% and 7%.
CBRL, 1-day
The move lower in shares comes after they came under pressure last month following the Cracker Barrel's rebranding announcement, which brings its one-month fall to more than 20%. While shares later saw a boost in the wake of the chain's decision to scrap the new logo and go back to the original, they're still in the red on the year, having fallen more than 6%.
— Sean Conlon
Stock futures open higher
U.S. stock futures opened in positive territory on Wednesday evening.
Shortly after 6 p.m. ET, futures tied to the Dow Jones Industrial Average advanced 34 points, or 0.1%. S&P 500 futures inched up 0.1%, while Nasdaq 100 futures gained 0.2%.
— Sean Conlon
